Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v2.4.0.6
Earnings Per Share
 6 Months Ended
Dec. 31, 2012
Earnings Per Share [Abstract]  
Earnings Per Share
Note 8 - Earnings Per Common Share
The following table summarizes the computation of basic and diluted earnings per share:
 
THREE MONTHS ENDED
 
SIX MONTHS ENDED
 
December 31,
 
December 31,
 
2012
 
2011
 
2012
 
2011
 
(In thousands, except share and per share amounts)
Net loss attributable to Magellan Petroleum Corporation
$
(7,285
)
 
$
(4,557
)
 
$
(12,594
)
 
$
(3,617
)
 
 
 
 
 
 
 
 
Basic weighted average shares outstanding
53,860,337

 
53,835,594

 
53,854,759

 
53,378,216

Add: dilutive effects of stock options and unvested stock grants (1)
—

 
—

 
—

 
—

Diluted weighted average common shares outstanding
53,860,337

 
53,835,594

 
53,854,759

 
53,378,216

 
 
 
 
 
 
 
 
Net loss per basic and diluted share outstanding
$
(0.14
)
 
$
(0.08
)
 
$
(0.23
)
 
$
(0.07
)
(1) There is no dilutive effect on earnings per share in periods with net losses.
Potentially dilutive securities excluded from the calculation of diluted shares outstanding include the following:
 
THREE MONTHS ENDED
 
SIX MONTHS ENDED
 
December 31,
 
December 31,
 
2012
 
2011
 
2012
 
2011
Stock options
—

 
—

 
—

 
7,547,826

Non-vested restricted stock
—

 
204,167

 
—

 
204,167

Total
—

 
204,167

 
—

 
7,751,993